Trade with ASEAN to grow to $70 bn by 2012
January 20th, 2012 - 4:06 pm ICT by IANSKolkata, Jan 20 (IANS) Trade between India and the ASEAN (Association of Southeast Asian Nations) countries is expected to grow to $70 billion in 2012, a senior external affairs ministry official said here Friday.
“The trade between India and the ASEAN countries following the Free Trade Agreement (FTA) for trade in goods reached $50 billion in 2011. So we now have a target of $70 billion by 2012,” said Sanjay Singh, secretary (east) in the ministry of external affairs.
“We have a very large trade basket with ASEAN countries… it is spread over huge number of commodities. We hope to see growth in all the commodities. In 2012, we will get $70 billion (trade) because we are growing at a rate of 18-20 percent every year,” he said on the sidelines of the Look East Economic Summit 2012.
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Tags: asean countries, association of southeast asian nations, bn, commodities, economic summit, external affairs ministry, free trade agreement, fta, India, ministry of external affairs, ministry official, sanjay singh, sidelines, southeast asian nations, target